HOME › Research Insight › Automated Packaging and Labeling Systems Offer Significant Opportunities in the Global Pharmacy Automation Systems Market
Automated Packaging and Labeling Systems Offer Significant Opportunities in the Global Pharmacy Automation Systems Market
In order to assist the identification of drugs, healthcare organizations have started taking steps towards automation of drug packaging and labeling processes. Automated packaging systems eliminate the need for manual packaging and sorting of medication and is also easy to maintain and operate. The market for automated packaging and labeling systems is expected to grow at a healthy CAGR of 9.5% in the coming five years. Due to its high demand, several new global and local players are entering into this space, thus increasing the competition to seize the maximum market share. In this competitive scenario, various companies are launching innovative and advanced products to gain a competitive edge over the other companies in this market.
Factors such as the need of improving dispensing accuracy and productivity and lowering the overall costs, need to provide all medications with clear labels, increasing need to avoid errors with look-alike and sound-alike drug names, indefinite drug packaging, and confusing or missing drug labels are propelling the demand for automated packaging and labeling systems in pharmacies across the globe.
The North American region dominated the automated packaging and labeling systems market, followed by Europe, APAC, and RoW. The market in Europe is expected to grow at a slower pace due to the shrinking budgets in the European region. On the other hand, the Asian region will grow at the highest pace, due to the increasing awareness and adoption of technologically advanced products.
The prominent players in this market are AmerisourceBergen (U.S.), Talyst Inc. (U.S.), Omnicell Inc. (U.S.), McKesson Corporation (U.S.), and Swisslog Holdings AG (Switzerland).
Pharmacy Automation Systems Market by product type (Medication Dispensing Systems, Packaging and Labeling Systems, Table-top Counters) & by End-user (Inpatient Pharmacy Automation, Outpatient Pharmacy Automation) - Global Forecasts & Trends to 2019
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